(03-19-2024, 03:44 PM)mikesez Wrote:

(03-19-2024, 03:33 PM)The Real Marty Wrote: I think Trump's lawyers make some pretty good points.

https://www.nbcnews.com/politics/donald-...rcna143860

His lawyers are saying he would have to come up with about $1 billion in cash or marketable securities to get the bond.  They're saying the bond companies won't accept real estate as collateral. 

Even if you have a net worth of say, 4 or 5 billion dollars, it can't be easy to mortgage, for example, a golf course in Scotland, in less than a month.  And there's no way he's going to hide his assets in the meantime.  He can't hide real estate. 

So knowing what I know now, if I was hearing the appeal about the bond, I would reduce it by a lot.  It's not really fair to use a judgment to bankrupt a person before they can appeal.  Even if I think he's guilty of the charges.  I don't think a single judge should have the right to crush a person like that before the verdict is confirmed on appeal.

He doesn't have to declare bankruptcy.
As I understand it, at the deadline, the state will file the paperwork to seize some of his properties, and that is not instant.  Not sure if it holds up his appeal though.  I don't think it does.

But this does highlight how Byzantine NY law is.